Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Global Farm Management Software and Data Analytics Market: Focus on Application, Software, Software Type, Service Offering, and Region - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global farm management software and data analytics market is projected to reach $19.83 billion by 2034 from $4.52 billion in 2023, growing at a CAGR of 14.49% during the forecast period 2024-2034
The farm management software and data analytics market is emerging as a significant sector within agricultural technology, driven by the increasing demand for sustainable farming practices and enhanced crop yields. Farm management software and data analytics offer increased agricultural mechanization and automation by increasing agricultural productivity and efficiency.
It also helps in the overall digitization of the agricultural sector. Agricultural activities can be better monitored and managed through software solutions in the field. This software also enables the controlling of field activities remotely. Farmers can strategically plan how the activities in the field can be undertaken, leading to more transparency in the field and increased agricultural efficiency.
The competitive landscape for the farm management software and data analytics market is characterized by the presence of several key players, each striving to gain a competitive edge through innovation, strategic partnerships, and comprehensive service offerings. Major companies such as Deere & Company, Trimble Inc., and Ag Leader Technology dominate the market with their robust product portfolios and strong customer base. These companies invest heavily in research and development to introduce advanced features and functionalities that cater to the evolving needs of modern agriculture.
Additionally, there is a growing presence of niche players and startups focusing on specialized areas such as predictive analytics and spatial data analytics, further intensifying competition. Collaborations and acquisitions are common strategies employed by these companies to enhance their technological capabilities and expand their market reach.
Companies have put considerable effort into developing new strategies to increase the availability of farm management software. For instance, in April 2021, HORSCH LLC. and Trimble Inc. collaborated to develop solutions that enable autonomy in agriculture to build a future for autonomous machines in the industry.
The global farm management software and data analytics market is ready to grow in the forecast period with increased developments by key players in the market. An increase in the adoption of farm management software and data analytics solutions in the agricultural industry would boost agricultural production and efficiency in the field.
Market Lifecycle Stage
The farm management software and data analytics market is currently in the growth stage of its lifecycle. This stage is characterized by the increasing adoption of digital tools across the agriculture industry as more farmers and agri-businesses recognize the value of data-driven decision-making. The demand for precision farming, driven by the need for higher yields, resource optimization, and sustainability, is accelerating the expansion of this market.
During this growth stage, significant technological advancements, including artificial intelligence (AI), Internet of Things (IoT), and satellite imagery, are being integrated into farm management platforms. Companies in this market are focused on enhancing their solutions to offer more comprehensive and actionable insights, catering to a wide range of stakeholders, from farmers to large agri-enterprises. Investment in these technologies is increasing as the benefits of data analytics become more evident, further driving market expansion.
As the market continues to grow, consolidation is likely, with larger companies acquiring innovative startups to enhance their offerings. The growth stage is also marked by the global expansion of these technologies as developing regions adopt digital farming solutions to improve productivity. While the market is not yet fully mature, it is moving toward that phase with increasing competition, standardization, and the development of more sophisticated tools that cater to the evolving needs of the agriculture sector.
Market Segmentation
Application
- Precision Farming: Yield Monitoring and Farm Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, and Farm Economics
- Livestock Management: Milk Harvesting, Animal Health Monitoring, Feeding Management, Fertility Monitoring, and Others
- Aquaculture
- Forestry
The livestock management segment is one of the prominent application segments in the global farm management software and data analytics market in 2034.
Software
- On-Cloud Software: SaaS and PaaS
- On-Premises Software
The global farm management software and data analytics market is estimated to be led by on-cloud in terms of software in 2034.
Service Offering
- System Integration and Consulting
- Maintenance and Support
- Managed Services
The global farm management software and data analytics market is estimated to be led by managed services in terms of service offerings in 2034.
Software Type
- Enterprise Management and Finances
- Predictive Analytics
- Field Monitoring and Sensors
- Data Aggregation
- Spatial Data Analytics
- Scouting Software
The global farm management software and data analytics market is estimated to be led by enterprise management and finances in terms of software type in 2034.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 195 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $5.12 Billion |
| Forecasted Market Value (USD) by 2034 | $19.83 Billion |
| Compound Annual Growth Rate | 14.4% |
| Regions Covered | Global |
Market Dynamics Overview
Trends: Current and Future Impact Assessment
- Trends: Overview
- Efficient and Sustainable Solutions to Traditional Agricultural Methods Through Data Analytics and Farm Management Systems
- Case Study: Walnut Grove Farms and Granular Farm Management Software
- Increasing Focus on Sustainability and Environmental Monitoring
Market Drivers
- Necessity for Advancements in Agricultural Methods
- Escalating Demand for Food Production
Market Challenges
- Data Privacy and Security Concerns
- High Costs Hindering Widespread Adoption of Advanced Farming Technologies
Market Opportunities
- Expanding Mobile and Cloud Solutions to Enhance Farm Management Efficiency
- Increasing Use of Drones and Remote Sensing for Farm Management
Supply Chain Overview
- Value Chain Analysis
Research and Development Review
- Patent Filing Trend (by Year)
Stakeholder Analysis
- Use Case
- Building an Online Farm Management Application
- Custom Farm Management Software Development for U.K.-Based Agriculture Company
Ongoing Programs
Startup Landscape
Key Market Players and Competition Synopsis
- Accenture
- AGCO Corporation
- Semios
- Deere & Company
- BASF SE
- Bayer AG
- Trimble Inc.
- Merck & Co., Inc.
- Corteva
- DeLaval
- AGRIVI
- Ag Leader Technology
- KUBOTA Corporation
- TELUS
- Taranis
For more information about this report visit https://www.researchandmarkets.com/r/draemv
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